Wednesday, August 26, 2009

Status Report: 800 K/L Proposal




Last night the Sacramento City Council discussed the future of the proposed 23 story hotel and parking garage at 8th & K/L St. by developer Bob Leach/USA Hospitality. The last time Mr. Leach was to appear before the Council two weeks ago, he asked for a delay because his proposal was going to be slammed over the financing for the proposal. This time he came back to the council offering 40% of cash flow instead of 10% over 10 years and asking for 50% of the Transient Occupancy Tax rebate over 14 years instead of 100% over 10 years. USA Hospitality’s now asking for $31.5 million subsidy from the city in an effort to make this project feasible. After a few council members made their opinions known about keeping the façade of the Bel-Vue by incorporating it into the hotel project, the council agreed to a 90 day extension to see if USA Hospitality can pull things together and make this project work.

It looks as though the 90 day extension may have ended Tony Giannoni hopes to also build a 165-room hotel at 10th & K Street. A spokesman on behalf of Mr. Giannoni told the council that if they gave a 90 day extension to the 8th & K St. hotel proposal, they would see that as a sign to drop their project because the market could not support both projects. If after 90 days the USA Hospitality’s bid gets rejected by the council and the other proposal at 10th & K has already withdrawn their plans… we could be left with no new hotels on K Street.

This project still has to go through the Design Review Commission and Planning Commission as a part of the entitlement process. If this current design with the separate parking garage manages to be approved by both the Planning Commission and Design Review Commission, it will demonstrate in my opinion that neither the Commissions or the City Council really understand their roll in helping both designers and developers comprehend the rich context of this unique place in our city.

Thursday, August 13, 2009

City Council Hotel Subsidy Vote

Last Tuesdays the 8th & K Street hotel subsidy vote was delayed by a request of the development team, the proposal is now scheduled to be heard on Aug. 25th. This delay will now will give the public more time to make their opinions heard as to why this proposal is a bad deal for the city from an urban planning stand point with the enormous parking garage as well as the complete give away of land and tax dollars.

In my previous post, I listed several reasons why the city council and Mayor should not rubber stamp the project without major changes in how parking is treated. This seems to be the proposals worst feature, six floors of open, visible parking that destroys a whole city corner in doing so. Back in 1990, Lankford and Cook’s built 1201 K Street building (Ban Roll On) as seen below. Above the first floor there are five floors of parking that are covered and disguised so that it doe’s not detract from the building outer visage by tucking it into the structure. In doing this, the design shows concern for its impact on the street level and truly helps that tower feel inviting when walking up to it on the street.



This current 8th & K St. proposal appears to thumb its nose at the cities design guidelines and I’m wondering if the City Councils even paying attention? If this is something that concerns you, please take a few minutes to email both the city council and Mayor before the August 25th meeting. Instead of just rolling over and leaving it alone hoping that the Mayor and council speak up for changes, maybe we need to remind them to exercise some quality control and insisting that developers try harder.

Here are email address to both the City Council and Mayor. If you also feel the same way about this project, please let our officials know. A hand full of voices on this matter might empower our city’s bully pulpit to have a back bone on this more often.

Mayor Kevin Johnson - mayor@cityofsacramento.org

Council Members
Ray Tretheway - rtretheway@cityofsacramento.org
Sandy Sheedy - ssheedy@cityofsacramento.org
Steve Cohn - SCohn@cityofsacramento.org
Robert Fong - RKFong@cityofsacramento.org
Lauren Hammond - LHammond@cityofsacramento.org
Kevin McCarthy - KMcCarty@cityofsacramento.org
Robbie Waters - rwaters@cityofsacramento.org
BonniePannell - bpannell@cityofsacramento.org

Saturday, August 08, 2009

8th & K Hotel $34M Subsidy



On Tuesday the 11th the city council will hear a pitch from developer Bob Leach to build a 409-room hotel on K Street. The proposal also includes a six story parking garage on the corner of 8th & L Street with future expansion of three stories of residential to be built on top of it later. This $136 million hotel project asking for $34 million in city subsidies, $14 million land donation plus $20 million in future tax forgiveness. This current proposal sounds similar to nearly every other proposal in downtown that can't be built unless millions are given to a developer in handouts from the government. Bob Leach has also teamed up with downtown businessman Mohammed “Moe” Mohanna on this proposal where last year he lost a law suite against the city for this same 8th & K St. property. This happen when Moe’s balked at an agreed apon property swap after a fire and then subsequent demolition of one of his properties.

The list is long in how may developments in downtown Sacramento have needed subsidies before they can even lift a shovel. It’s now become the status quo for nearly all projects in downtown to be built this way and I think it's absurd to pay no taxes when everyone else has to pay them. I also personally hate the idea of this parking garage even if a couple retail stores are to be included in the structure. The eight story parking garage at 8th & J St. has two retail shops on the ground floor but is a far cry from actually improving a dead zone created from the parking structure. There are numerus ways to tuck needed parking into the structure like has been done with many other towers in Sacramento. I think this proposal will look about the same as the 8th & J St. garage and will also cheapen a unique corner in the central city.



Here’s a Google street view photo of the garage at 8th & J Street that was built twenty years ago. It has two retail shops on J Street but you can hardly tell being that all you see is a lifeless structure.

Our city deserve something better, I hope our city council and Mayor also feel the same.

Tuesday, July 28, 2009

Jibboom Street Site & Powerhouse Science Center



Today the Sacramento City Council authorized negotiations on the proposed Sacramento Museum of History, Science and Technology and reuse of the Jibboom Street Power Station Site. The Council also entering into a second extension and exclusive right to negotiate with SMHST for a period of one year which were similar terms as the prior agreements.



It's the City desires to use preservation and adaptive reuse of the old Power Station, as well as add amenities to the adjacent Robert T. Matsui Waterfront Park. The SMHST proposes building the "Powerhouse Science Center" on the site, which will include a science, space and technology museum in the rehabilitated Power Station, with an adjacent restaurant and educational center, a planetarium, and an inviting open public park area. The new riverfront complex includes four floors of exhibit space within the historic building, a new digital planetarium theater, classrooms, Challenger Learning Center, riverfront restaurant and special events center.



The City Council has also agreed to transfer $200,000 from the River District Redevelopment Tax Increment funds to the Richards Blvd. Capitol Improvement Project with matching fund for the Powerhouse Science Center to be used on predevelopment activities that include architectural fees, engineering studies, environmental studies, and entitlement fees. The Science centers seeking $10 million in federal funds, $10 million in city and county, and $10 million from the state in addition to monies from foundations and private donations.



Dreyfuss & Blackford Architects
Developer: Carson Development Company
Science Center: 42,000 sq ft
Learning Center: 5,000 sq ft
Restaurant & Conf. Center: 14,000 sq ft
Completion 2011

Sunday, July 26, 2009

Relocating Downtown Greyhound



This Tuesday the 28th, City Council will vote to authorize construction of the new Greyhound Terminal Building on Richards Blvd. The plan is to have Greyhound terminal moved by April 1, 2012 when the lease at its current location (703 L Street) expires. There is also the possibility that relocation may need to occur sooner if the landlord at 703 L Street exercises its right to an early termination of the current lease. The City Council also plans to suspend the traditional process of competitive bidding for building design because it could extend the project completion time beyond Greyhound's lease expiration date.

Money to pay for this project will come from the cities General Fund (Fund 1001) when city staff return in the fall of 2009 with a recommendation to award the final professional services agreement for architectural design services. Staff will then proceed with the competitive process in selecting a qualified contractor to build the new terminal. The chosen contractor will assist the architect in scoping and designing a constructible facility within the project budget.

Background Information

On December 12, 2006, City Council authorizing the purchase of 300 Richards Boulevard, which included several adjacent vacant parcels, City staff approached Greyhound to determine if the Richards Boulevard site was feasible for its needs until the Sacramento Intermodal Transportation Facility is ready for occupancy. Greyhound's review determined that the site would adequately accommodate its operations.

May 20, 2008, City Council committing $2 million for required site work including grading, utilities, sidewalks, curbs and gutters and the extension of the driveway off of Richards Boulevard to Bannon Street. The balance of the necessary funds ($4 million) will come from Sheraton Hotel sale proceeds earmarked for downtown redevelopment projects.

February 24, 2009, City Council approved the lease agreement with Greyhound and the Mitigation Monitoring Plan for the 420 Richards Boulevard site improvement.

Work is anticipated to begin on site during summer 2010 with completion at the end of 2011.

Thursday, July 23, 2009

Broadway Lofts



Today it’s being reported that the developers of a residential and retail project at 19th and Broadway are close to being shovel ready and starting demolition work on the site's existing buildings as early as October. Last week Millennium Real Estate Services reported getting a $25 million commitment from Evanston Financial in addition to the $4.4 million in state Proposition 1C funding.

147,000 sf. Mix-Use project
7,734 sf. Retail
17,628 sf. Office
125 lofts
11 live/work lofts
_________________

This is one project I really did not expect to see get off the ground any time soon… but I’ll believe it when I see it.

Monday, July 20, 2009

Station 65 Transit Village Plan



Last week the city council approved Station 65 located at the corner of Folsom Blvd. and 65th Street. It looks as though some gap financing issues still need to be worked out as well as the relocation of the bus station while construction occurs possibly next year.

$120 Million to build
148 Hotel Rooms
100 Residential Rental Units
63,000 sf. Retail and Restaurant
52,000 sf. Offices
30,000 sf. Fitness Center
615 Stall Parking Garage

Tuesday, July 14, 2009

The River District Overview

With 773 Gross Acres 675 Land Acres, the River District has a lot of room to develop it own identity becoming a mixed-use urban environment featuring residential, office and commercial services. Currently both Township 9 and the California Lottery Headquarters are breaking ground in an effort to revitalize the area. These major projects and others will serve as catalysts bring development, jobs, public transit and cultural amenities to District and paving the way from a primarily light-industrial commercial district to a distinctive, mixed-use neighborhood that will connect Sacramento to its rivers.



Process & Timeline
April – August 2009
Community Outreach
Chapter Writing for Specific Plan
Policy Development
Special Planning District Update
Historic Resources Survey

September 2009 - Infrastructure Finance Plan – Public Review
October 2009 - Public Draft EIR
January - 2010 Final EIR
Jan-Feb 2010 Public Hearings



Vision & Guiding Principles
- Maximize Connectivity –North/South and East/West.
- Create a Sense of Place.
- Encourage Sustainable Development.
- Build Infrastructure that Provides a Balanced Approach to Regional Traffic Issues.
- Stimulate Economic Growth.
- Provide a Variety of Urban Living Options.
- Support regional strategies that seek to improve social conditions
- Encourage Mixed-Use Development.
- Provide Enhanced Community Facilities and Amenities.
- Engage the Rivers and Foster Open Space Opportunities.
- Create a Walkable District.


Circled is Township 9 - 52 acre development approved August 2007


Goals for the River District Specific Plan
- Specific Plan will include the following:
- Land Use Plan and Zoning with Heights
- Circulation Plan
- Infrastructure / Public Facilities
- Financing Plan
- Nexus Study (Downtown/Railyards/River District Costs)
- Program Level Environmental Impact Report Design Guidelines (Central City Urban Design Guidelines)

Sunday, July 12, 2009

Third Saturdays Coming to Downtown

Starting on Saturday, July 18, over 40 local arts, crafts and fashion vendors will descend upon K Street, transforming downtown Sacramento into a bustling creative district.

The Third Saturday Design Downtown street fair will take place once a month and be a creative block party centered on 10th and K streets featuring artists, craft vendors, live music, food, drinks, a beer garden and more. And it’s all free! E-mail music@newsreview.com for more information!

When: Sat, 7/18, 3pm
Where: 10th and K streets

Vendors:
A Touch of Color Inc.
Archradish Apparel
Arts and Business Council
Atelier
Aurastella
Aztec Cash
BAM Designs
BKD Signature
Bliss Jewelry
Candy Glass
CC Star
Chris Simmons
Devalyn Marshall
Deranged Designs
Elevator
Essensual Jewelry
Fancy Foury Paws
Geddes Studio
J n J Design
Juli’s Jewels
Just Beecauze
Kenna Foster
Kewish Designs
Magic Salon
Marianne DeMartini
Marty May Press and Stitchery
Meshugga Chic Vintage
Never Felt Better by Jen
Pack Rat Crafts/ From the Heart Designs
Paul Imagine
Pegasusmaiden.com
Penny's Lane Polymer Clay
Project Transaction
Rag and Paper Designs by Gloria Grandy
Robin’s Nest Clothing
Royline
Sacto Jewelry
Screen Masters
Transformations
Transient Treasures
Wandering Mind Designs
Wee Sew Cute

Friday, July 10, 2009

The Railyards

In late June the Railyards were awarded $30.9 million in infrastructure funding by the California Department of Housing and Community Development's Loan and Grant Committee (HCD). This award will allow the project to build additional public infrastructure in this development effort.

The track relocation design effort under TranSystems will sprint into final design following NEPA completion. Bridge plans at 65% prepared by Quincy Engineering, Inc. in collaboration with Kimley-Horn and Associates, Inc. for the 5th Street and the 6th Street overpasses over future tracks south of the historic shops have been reviewed and approved by the City. Monitoring of surcharge piles impact on underlying soils at the location of the 5th Street bridge abutments is being conducted by F3 and Associates, Inc. under the supervision of Quincy Engineering and Blackburn Consulting. Preparation to drive indicator piles for bridge foundations is also underway. Teichert Construction has completed the first grading phase on Railyards Boulevard between Bercut Drive and 7th Street. Import of soil for vegetative cover continues by Taylor Heavy Hauling under the supervision of Environmental Resources Management. The amount and pace of infrastructure will accelerate as infrastructure bond dollars are received.


Thursday, July 09, 2009

Jibboom Street Park



Jibboom Street Park will act as destination attraction along the existing Sacramento River Parkway bicycle trail that connects Old Sacramento to Discovery Park. The project is being developed in phases, with the first phase completed. The landscaping, open turf area, walkways and benches, and promenade with lighting opened in Autumn 2006.

Jibboom Street Park Phase One developed 6.5 acres of the site surrounding the former PG&E building and extends to the recently completed Sacramento River Intake Facility to the south.

The existing river levee has expanded eastward, with earth fill added to the existing levee to widen it and bring part of the park site to the existing levee height. This visually reduces the scale of the new intake structure and enhance views of the Sacramento River along many locations in the park. An arc-shaped pedestrian walkway crosses the site and links the plaza at the new Sacramento River Intake Structure to a smaller pedestrian overlook at the former water intake pier. Interpretive signage is placed at the small pedestrian overlook at the former intake pier. The area between the levee and the pedestrian walkway creates a "River Green" open space area planted with native grasses, trees and vegetation so visitors can picnic, rest and enjoy views of the river. Other items included in the initial park development are site security lighting, non-mow landscaped berms to screen freeway traffic noise and low maintenance landscape plantings.

Another major feature for the proposed second phase of development is a large group picnic area with shade structures, picnic tables, group grill and site furniture, along with a parking lot. Future development of the project would include rehabilitation of the historic building for a commercial and/or community use, and could involve development of a conference center or restaurant with a terrace overlooking the Sacramento River.

Thursday, July 02, 2009

East End Gateway

All four East End Gateway sites have selected developers and project construction start dates for as early as later this year. All these projects have housing and ground floor retail space along the 16th Street corridor. If all sites get built as planned, a total of 198 housing units will be for rent or sale between the prices of $225,000 (525 Sq. Ft.) and $501,000 (1,100 Sq. Ft.)


East End Gateway Site 4

SE corner 16th & P Street
Developer: MNA Management, Inc. / Foothill Partners
Architect: Mogavero Notestine Associates
Unit Count: 40 condominiums and 8 to 12 rental co-op rooms
Retail Space: 5,560 sq. ft.
Estimated Development Costs: $12,400,000
Projected Construction Period: Late 2011 to Mid 2013
Key Milestones: Developer to provide Financing Plan: August 15, 2009
CADA and Developer enter into Exclusive Negotiating Agreement subject to CADA Board approval of Financing Plan: September 18, 2009


East End Gateway Site 2 & 3

Location: Site 2: NW corner of 16th and O Streets Site 3: SW corner of 16th and O Streets
Developer: Ravel Rasmussen Properties and Separovich/Domich Real Estate
Architect: Stantec Architecture
Unit Count: 60
Retail Space: Site 2: 5,781 sq. ft. Site 3: 7,137 sq.ft.
Estimated Development Costs: Site 2: $9,300,000 Site 3: To be determined
Projected Construction Period: Late 2009 to mid 2010
Upcoming Milestones: July 15, 2009 - Developer to close on the property and start construction.
Status: CADA and Developer have entered into a Disposition and Development Agreement (DDA) effective as of January 25, 2008. The DDA was amended on January 30, 2009 requiring the Developer to close on the site and start construction by July 15, 2009.
The City Building Department has approved the construction drawings and is prepared to issue a building permit pending payment of fees by the Developer.


East End Gateway Site 1

Location: NW corner of 16th and N Streets
Developer: Em Johnson Interest, Inc & Nehemiah Community Reinvestment Fund Holdings, Inc.
Architect: Devrouax & Purnell & LDA Architects
Unit Count: 98
Retail Space: Approximately 6,000 square feet oriented along 16th Street
Estimated Development Costs: $37,000,000
Projected Construction Period: Demolition starts: October 2010
Construction ends: February 2012
Upcoming Milestones: Developer submits conceptual design to CADA – 9-09 Stakeholder design presentations – 10-09 Planning Commission and Design Review Commission reviews (tent.) – 9-09 CADA Board review of conceptual design – 10-09 ENA expires – 4-10
Status: CADA and Developer have entered into a an a one-year Exclusive Negotiating Agreement (ENA) with the Developer on April 17, 2009. The ENA may be extended by up to one additional year by the CADA Board, if needed.

During the ENA period, the developer will be refining the conceptual design, securing a construction financing letter of commitment, and negotiating the terms and conditions of a Development and Disposition Agreement (DDA) with CADA. CADA and the developer will be presenting the conceptual design to key institutional and community stakeholders and stakeholder groups. CADA will be completing an environmental review of the project.

A DDA normally is executed at the end of the ENA period. During the DDA period, the developer will complete the construction documents, secure the building permit, and take title to the site in preparation for construction.

Construction is scheduled to begin in October 2010.

Wednesday, July 01, 2009

$55.8M in Prop. 1C funds


Capitol Lofts at 11th and R looking to the southeast

This week the state Department of Housing and Community Development approved four Sacramento projects for $55.8 million in Proposition 1C funds. The four projects awarded funding are The Railyards, Township 9, Curtis Park Village and Capitol Lofts which are all infill infrastructure and transit-oriented development housing projects.

The Capitol Lofts have been a project in the works for around 6 or 7 years, so I really hope this funding jump starts the project. I'm also not sure about Curtis Park Village, this projects been stalled for over a year because Superfund clean-up costs exceeded the $4 million grated to the project in 2008 from Proposition 1C grants.

This year $197 million was available statewide through the Prop. C1 program, these grants will help cover the cost of new infrastructure.

Monday, June 22, 2009

Sacramento Infill Strategy

Back in 2002, the City Council adopted an Infill Strategy with the purpose to removing barriers, promote more quality infill development, and to work closer with the community, developers, and public agencies in Sacramento.



In a recent overview report filed by the cities Infill Coordinator, between the years of 2005 and 2008, infill development in Sacramento had become a much larger share of total developments in the city but it still lags behind greenfield development. The increase in infill development in the City does not appear to stem from dramatic increases in demand or the number of infill developers, but rather an increasingly constrained supply of greenfield land. This has boosted the percentage of infill from 19% in the 2001-2004 period to 43% in 2005-2008 time period.

With growing numbers of local infill developers, increasing demand and a limited land supply, the percentage of infill development is expected to continue to grow. However, infill developers face a number of significant barriers including obsolete infrastructure, high construction costs and land prices, design issues, communityresistance, and a complicated regulatory environment.



The City has made a lot of changes to improve the regulatory environment for infill developers. Changes include the new streamlined MATRIX review process; clearer design guidelines; zoning changes to allow higher density and promote flexibility; fee deferrals and waivers for infill; grant funding for amenities in infill areas; and financial assistance to projects. In addition, the City has begun proactive efforts, such as the Shovel-Ready Sites Program, to invest in infill areas in order to leverage additional private sector investment.

Efforts to promote infill development in the City and the region have increased due to the benefits of this type of development. By placing jobs, housing and services near existing businesses and residents rather than at the City’s edge, the City can help reduce vehicle trips, improve air quality and reduce the long-term cost of having to build and maintain new roads, pipes, and facilities.



Unlike the residential market where a constrained land supply drove an increase in infill activity over the last four years, industrial, office, and retail development was influenced by different factors. Such factors include proximity to consumers, market demand, and ease of access. While non-residential development increased almost 70% in infill areas compared to only 28% in greenfield areas, a breakdown by type reveals a more complex picture.

Between 2005 and 2008, the level of industrial and especially retail development was higher in greenfield areas compared to infill areas. In infill areas, only office development was higher, but that was a result of significant high-rise office projects in Downtown such as the U.S. Bank Tower rather than a widespread increase in infill areas.

Since the 2030 General Plan proposes that two-thirds of all future growth will be infill, the City will be looking at new ways to promote infill development to meet future demand. The risk that the City faces is that if it is not able to increase the supply of infill development, people and jobs may locate in greenfield areas or elsewhere in the region. If more people and employers locate away from urbanized infill areas, our region will see less open space, increased congestion and worsening air quality.

All info above was provided by the City of Sacramento Summer 2009 Infill Report

Saturday, June 20, 2009

2600 Capitol Ave.



By Bob Shallit
Sacramento Bee

A Sacramento development company is celebrating a rare honor: Gold LEED designation for its midtown office complex. The certification – earned for green buildings with high levels of energy savings and water conservation – was awarded this week for the 55,000-square-foot project at 2600 Capitol Ave. Gold is the second-highest of four designations established by the nonprofit U.S. Green Building Council."To be honest, I didn't think we'd get the gold," says LoftWorks partner Mike Heller. "It's pretty tough to reach … but we just squeaked in."The airy, four-story glass building, finished late last year and now about half-occupied, was designed by the Sacramento-based Lionakis architecture firm.Getting the gold for a private-sector building is rare today, "but it will be the norm pretty soon," Heller says. "Those who don't embrace (green technology) will be behind the competitive eight-ball."




Thursday, June 11, 2009

Concept for 8th & K Hotel Design



There appears to be a proposal or two in the works for 8th & K Streets in downtown Sacramento for when the market starts to recover and developers have better access to financing. The architects of Fletcher Farr Ayotte of Portland has recently completed concept designs for a new 409-room Hilton hotel at 8th & K Street along with a seven-story parking garage for the corner of 8th & L Street in downtown Sacramento.




This current proposal really bugs me in that there’s a massive parking garage planned for the corner of 8th & L Street. The hotel tower portion of the proposals decent and it would be great to see Hilton on K Street, but the massive parking garage planned next to the tower would be a horrible mistake devastating another pedestrian friendly corner of the city. This is the same design flaw that was used when the Library Tower was built nearly twenty years at the corner of 8th & J Streets. The Library Tower included an eight story parking garage next to the office tower leaving much to be desired for what could have been an awesome block. This current parking garage proposal only two blocks away from the Library Tower garage and it would be a shame to see another corner in the central city wiped out and turned into another enormous parking structure. I would recommend that the developer somehow tuck the parking into the structure like what has been done with a majority of other high-rises in downtown Sacramento. Incorporating the parking into the structure or underground would make the street appearance of the project much more attractive and would also avoid making the same mistake that the Library Tower made which is now a daily reminder of what poor city planning can produce.



As of now, this is just a concept and has not been through any of the cities Planning or Design Committees where I would hope that they will also see this design error in wiping out another corner of the central city for a parking structure. If this current choice of design is acceptable and built as planned, downtown Sacramento will soon resemble downtown Phoenix where huge parking structures are prominent on every other block.

Friday, May 22, 2009

R Street vision refined, except for financing


Sacramento Business Journal
Friday, May 22, 2009

With restaurants and loft projects planned or under way on R Street west of 15th Street, the second phase of the corridor’s transformation has begun, with the city of Sacramento soliciting ideas for a public plaza in one of the more desolate stretches in town.

The two-block span of R Street between 16th and 18th streets, located near light-rail lines, now functions largely as an alleyway with some side parking. It is bordered by vacant lots and the empty Crystal Ice building as well as other buildings along a route to the Safeway grocery in midtown.

The city is looking at the plaza as a place for public art, planters and other amenities that would reshape the space with brick paving or interlocking concrete.

According to a description of the project provided by the city, details are getting more refined.

“Travel lane and pedestrian pavement will be large alternating bands of warm, earth tone colored and natural concrete,” the description says.

The challenge for the cash-strapped city is paying for it all. There is partial funding for design, and city workers are attempting to find funding for construction. The cost for street improvements west of 16th Street was about $4.5 million.

Thursday, May 14, 2009

Renaissance Tower 20 Year Anniversary



Back in 1989 twenty years ago, Sacramento completed a landmark structure that engulfed many of the nondescript low-rises strung around downtown and became the first high-rise to reach past the 20th floor becoming the cities tallest. Many locals like to refer to the building as “Darth Vader” because of its menacing shape and dark color. This tinted-glass high-rise was originally proposed at 25 floors but was amended to be 28 floors, which put the tower 160 feet above the Capitol dome. With much applause and hope, city leaders at the time expected the Renaissance Tower to represent a rebirth of downtown and K Street. At 372ft tall, this was the cities tallest building constructed during the 1980's. This gem-shaped tower at the corner of 8th and K streets was counted upon to help revitalize the downtown mall and bring badly needed jobs and revenue to the central city.



In 1986 Mo Mohanna sold the old Clunie Hotel site to the Benvenutis (where the 28-story Renaissance Tower now stands) and after 60 years of use and being closed since March of 1980, the hotel was demolished to make way for the new high-rise. In 1987 developer Joe Benvenuti threatened to kill construction of the tower if the Sacramento City Council voted to impose stiff fees within the R Street corridor where several other proposals by Benvenuti were also on the drawing board. The council choose not to vote on its elaborate fee proposal that was an effort to raise money for downtowns revitalization. At the time, City Councilman David Shore was eager about the proposed tower saying “I think it's going to be of immense value in cleaning up the Downtown'' while at the same time city planning officials said that it could spark a revitalization of the city's central business district.

I personally love the tower. Its gemlike shape has a nice shimmer late in the day when the suns setting and looks really impressive when storm clouds are rolling through reflecting slivers of light off the dark glass.



Architect: Daniel, Mann, Johnson, & Mendenhall (DMJM).
Developers: Joseph and Richard Benvenuti.
372 Feet Tall
28 Stories
$45 million to build.
336,000 square feet.
Ground-breaking August 24, 1987 and finished in 1989.
23,467 square feet of lobby and retail space
Seven-story parking garage with 510 spaces.
Glass-and-Granite exterior.
Last sale of tower in Jan. 08’ was just below $90 million.
The towers also know as 801 K Street and "Darth Vader" for it's shape and color.

Since the Renaissance Tower was built, ten other high-rises over 300 feet have been erected in downtown Sacramento.

Tuesday, May 12, 2009

Prop. 1C Applications Totaling $112 Million

SACRAMENTO (OBSNews.com) – In an effort to further jump start the local Sacramento economy, the City of Sacramento, in conjunction with other agency partners and area developers, today submitted applications totaling more than $112 million to the State of California's Proposition 1C (Prop. 1C) Infill and Transit Oriented Development Housing Programs. These applications for eight new mixed-use and transit-oriented development projects will provide a needed boost to the local economy, will create sustainable transit-friendly development envisioned in the City*s recently adopted 2030General Plan and the SACOG's Blueprint, and support housing development for low-income families. The City will continue to aggressively seek State and Federal funding to bring development projects and jobs to Sacramento.

"Putting Sacramento back to work and spurring economic development is our top priority, and securing these funds will go a long way to making that happen," said Mayor Kevin Johnson. "This is a proactive step towards investing in infrastructure to help create a successful future for Sacramento.

Expected to be awarded by June 30, project applicants for the second round of Prop1C will create vibrant new mixed income communities with a range of housing prices and affordable rents. Specific projects that could receive the grant funding include: The Railyards; Township 9; Station 65; Crystal Ice Blocks; Capitol Lofts; La Valentina; Curtis Park Village; and the 7th & H Street project.

If awarded funding, these grants will help cover the cost of new infrastructure that will support these new developments, create thousands of new short-term construction jobs as well as new permanent jobs in the region, and will help the City realize the vision of creating development to promote a new model of smart growth in the region.

In 2006 California voters approved Proposition 1C which launched several new programs that provide funding for infrastructure that supports residential and mixed-use infill development including affordable housing. In 2008, projects in Sacramento, including the Railyards, Township 9 in the River District and Broadway Lofts at 19th and Broadway, successfully secured more than $70 million of Proposition 1C funding. This year $197 million is available statewide through the Infill Infrastructure Grant Program and an additional $95 million is available through the Transit Oriented Development Housing Program.

OBSNews.com